How to transfer money from Nigeria to Singapore
1. Check out the NGN/SGD exchange rate to see if now is a good time to exchange
Exchange rates move up to 30000 times a day.
In times of high volatility, a quote today might be considerably worse (or better!) than a quote yesterday.
So, it’s always good to keep track of where your currency pair is and where it’s going to go.
This can help you time your exchange and get you more SGD for your NGN.
2. Compare a host of different companies available using our comparison engine
There are a lot of providers out there who can help you with your transfer to Singapore.
They all offer different prices, products and services.
For example, some are more expensive than others and some offer mobile apps.
Having all of the information in front of you in a neat comparison is very useful when choosing a provider.
3. Select the most suitable provider for you
What might be important to one person, might not be important for you.
For example, are you focused on safety rather than price?
Or, level of personal service over features?
To summarise, here is what you should consider:
4. Get a quote from your chosen provider and complete the transfer
After signing up, you’ll probably have to go through some compliance checks.
This means sending them some documentation to prove that it’s really you.
Once that’s done, it’s as simple as locking in an exchange and sending them your Nigerian Nairas.
After that, they’ll dispatch your Singapore Dollars to Singapore and your transfer is complete.
Exchange rates move up to 30000 times a day.
In times of high volatility, a quote today might be considerably worse (or better!) than a quote yesterday.
So, it’s always good to keep track of where your currency pair is and where it’s going to go.
This can help you time your exchange and get you more SGD for your NGN.
2. Compare a host of different companies available using our comparison engine
There are a lot of providers out there who can help you with your transfer to Singapore.
They all offer different prices, products and services.
For example, some are more expensive than others and some offer mobile apps.
Having all of the information in front of you in a neat comparison is very useful when choosing a provider.
3. Select the most suitable provider for you
What might be important to one person, might not be important for you.
For example, are you focused on safety rather than price?
Or, level of personal service over features?
To summarise, here is what you should consider:
- Exchange rates and fees
- Speed of transfer
- Safety (regulation)
- Service and features
4. Get a quote from your chosen provider and complete the transfer
After signing up, you’ll probably have to go through some compliance checks.
This means sending them some documentation to prove that it’s really you.
Once that’s done, it’s as simple as locking in an exchange and sending them your Nigerian Nairas.
After that, they’ll dispatch your Singapore Dollars to Singapore and your transfer is complete.
Best way to transfer money from Nigeria to Singapore
With money transfers, there is no universal best way.
It comes down to what you want and what you need.
Whether it’s service, security, speed or cost, you have to choose a provider that fits your requirements.
To truly find your ‘best way’, having a shop around and comparing your options is your best bet.
If you are worried about security, you can rest assured that all companies on TopMoneyCompare are very safe.
We don’t list any money transfer services that aren’t regulated by the Financial Conduct Authority (FCA), or their countries' equivalents.
In the same way we list UK banks which are regulated by the Prudential Regulation Authority (PRA).
If they’re regulated, they’re safe to use.
If you’re wondering about our own preferences, we have listed our top choices 10 for international transfers.
With our comparison engine, you can also see how quick each provider is, and what their rates and fees are.
To summarise, TopMoneyCompare gives you all the tools to help you find your best way to transfer money from Nigeria to Singapore.
You can start your comparison just below.
It comes down to what you want and what you need.
Whether it’s service, security, speed or cost, you have to choose a provider that fits your requirements.
To truly find your ‘best way’, having a shop around and comparing your options is your best bet.
If you are worried about security, you can rest assured that all companies on TopMoneyCompare are very safe.
We don’t list any money transfer services that aren’t regulated by the Financial Conduct Authority (FCA), or their countries' equivalents.
In the same way we list UK banks which are regulated by the Prudential Regulation Authority (PRA).
If they’re regulated, they’re safe to use.
If you’re wondering about our own preferences, we have listed our top choices 10 for international transfers.
With our comparison engine, you can also see how quick each provider is, and what their rates and fees are.
To summarise, TopMoneyCompare gives you all the tools to help you find your best way to transfer money from Nigeria to Singapore.
You can start your comparison just below.
Cheapest way to transfer money from Nigeria to Singapore
For transfers of over ₦1500000, the cheapest way to transfer money from Nigeria to Singapore is through a currency broker.
Currency brokers are best for larger transfers.
You’ll get great rates with no fees, alongside a personal account manager to help guide you through the process.
However, you’ll find that some either have a minimum volume of ₦1500000 or will provide non competitive rates for anything under that.
So, for transfers of under ₦1500000, you’re better off with a money transfer app.
You do all the work yourself, with no one to speak to.
Most apps provide the best rates available, however most have small fees.
We recommend avoiding the following, for all transfers:
To get a specific quote and comparison, start a new search on TopMoneyCompare.
Currency brokers are best for larger transfers.
You’ll get great rates with no fees, alongside a personal account manager to help guide you through the process.
However, you’ll find that some either have a minimum volume of ₦1500000 or will provide non competitive rates for anything under that.
So, for transfers of under ₦1500000, you’re better off with a money transfer app.
You do all the work yourself, with no one to speak to.
Most apps provide the best rates available, however most have small fees.
We recommend avoiding the following, for all transfers:
- Banks
- Cash-based providers
- E-wallets (e.g. PayPal)
To get a specific quote and comparison, start a new search on TopMoneyCompare.
Fastest way to transfer money from Nigeria to Singapore
If speed is of the essence, using a currency broker could be your best bet.
They are quick to act, have streamlined registration processes, and can help you find a bespoke solution for your requirements.
Compared to an app, where your application might take longer to process for compliance reasons.
In which case, you will have no one to speak to and will just have to wait it out.
Most currency brokers can perform major currency transfers the same day, similarly to banks.
So this means that if you can get your Nigerian Nairas to them quickly, they can dispatch your Singapore Dollars just as quickly.
For instant transfers, you should look into multi-currency accounts.
Some companies offer instant transfer between accounts on the same platform.
Please note, the fastest option often won’t necessarily be the cheapest.
They are quick to act, have streamlined registration processes, and can help you find a bespoke solution for your requirements.
Compared to an app, where your application might take longer to process for compliance reasons.
In which case, you will have no one to speak to and will just have to wait it out.
Most currency brokers can perform major currency transfers the same day, similarly to banks.
So this means that if you can get your Nigerian Nairas to them quickly, they can dispatch your Singapore Dollars just as quickly.
For instant transfers, you should look into multi-currency accounts.
Some companies offer instant transfer between accounts on the same platform.
Please note, the fastest option often won’t necessarily be the cheapest.
How to get the best NGN/SGD exchange rate
Getting the best NGN/SGD exchange rate comes down to this:
Getting comparison quotes is the best way to determine who comes out on top.
Next comes timing your exchange.
This means keeping an eye on the market and any upcoming news.
Exchange rates are heavily swayed by financial and political announcements, such as interest rate changes and consumer index reports.
By knowing what’s coming up, you can have a good idea on where the exchange rate is going to go.
If you think it’s going to go up, you should wait. If you can see it going down, you should perform the transfer sooner rather than later.
If monitoring the markets isn’t for you, a currency broker can help.
You’ll be assigned a personal account manager who will basically do all of the above on your behalf.
They’ll then let you know the best time to exchange.
- Choosing the most competitive provider
- Timing your exchange
Getting comparison quotes is the best way to determine who comes out on top.
Next comes timing your exchange.
This means keeping an eye on the market and any upcoming news.
Exchange rates are heavily swayed by financial and political announcements, such as interest rate changes and consumer index reports.
By knowing what’s coming up, you can have a good idea on where the exchange rate is going to go.
If you think it’s going to go up, you should wait. If you can see it going down, you should perform the transfer sooner rather than later.
If monitoring the markets isn’t for you, a currency broker can help.
You’ll be assigned a personal account manager who will basically do all of the above on your behalf.
They’ll then let you know the best time to exchange.
